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Robert Powell, III// September 14, 2018//
Wilmington, Del.-based Rockford Capital Partners has acquired a 100,632-square-foot office building in Hampton.
The single-story building on 400 Butler Farm Road is totally occupied by a division of Wisconsin Physicians Service Insurance Corp.
The seller is an affiliate of Lexington Realty Trust. The sales price was not disclosed.
The deal is the first acquisition for the recently-launched Rockford Fund IV.
“The Butler Farm Rd transaction provides Rockford Fund IV with excellent in-place yield coupled with long-term upside potential,” Doug Motley, principal of Rockford Capital, said in a statement. “This investment is consistent with our approach of acquiring high-quality, well-located office assets in submarkets with limited supply and positive business activity.”
The seller was represented in the transaction by J. Scott Adams of CBRE Hampton Roads.
Rockford Capital is a private real estate firm specializing in the acquisition, repositioning, and management of commercial real estate assets throughout the eastern U.S.
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